Carbon trading schemes declare global partnership

Countries and regions backing mandatory emission trading unite to plot global carbon market

Countries and regions that back mandatory carbon trading to combat global warming have forged an alliance to build a global carbon market, it was announced in Lisbon, Portugal, on Monday.

The International carbon action partnership (Icap) was launched by 21 countries and regions from Europe, the US, Canada and Australasia, with the goal of aligning new and planned emission trading schemes to work towards a global carbon market.

"Putting a price on carbon is the vital 'pull factor' needed to ensure a healthy market for clean technologies," said EU president Jose Manuel Barroso. "[We are] sending an important signal… just one month before the UN climate conference in Bali."

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